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TRLPC-Trafigura launches $4.25 bln loan refinancing
January 22, 2015 / 5:52 PM / 3 years ago

TRLPC-Trafigura launches $4.25 bln loan refinancing

LONDON, Jan 22 (Reuters) - Commodity trading house Trafigura Beheer said on Thursday that it has launched syndication of a $4.25 billion loan to refinance its existing European syndicated revolving credit facility.

The financing is split between a 364-day revolving credit and a three-year loan.

A bank meeting is scheduled to be held in London on January 27 and the loan is expected to close in late March.

The multicurrency loan is being arranged by active bookrunners and mandated lead arrangers Rabobank, ING Bank, Royal Bank of Scotland, and Societe Generale along with non-active bookrunners and mandated lead arrangers Lloyds Bank, Standard Chartered and Unicredit.

Bank of China is a mandated lead arranger.

The existing $4.735 billion loan which is being refinanced was signed in March 2014 and included a $1.412 billion, 364-day facility, with two 364-day extension options and a $3.323 billion, three-year facility with two 364-day extension options.

The 364-day revolving credit facility paid 95 basis points (bps) over LIBOR and the three-year facility paid 120 bps over LIBOR.

Trafigura Group is one of the world’s leading independent commodity traders and specialises in the oil, minerals and metals markets. (Editing by Tessa Walsh)

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